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Prices of the Russian PET to change insignificantly in September

September 01/2011

(MRC) -- PET granulate prices for September remain unchanged in the Russian market due to a weak demand amid oversaturated market, according to ICIS-MRC Price report. Despite quotations growth in Asia, Russian producers do not raise PET prices in the domestic market. The main reason is weak demand from PET converters.

In August ongoing slumping sales forced regional producers to produce to stock. According to market players, there is no use to rise granulate prices. Today PET prices of Russian production make RUB 59.000-62.000/t, including VAT, CPT Moscow. Increased feedstock prices in Asia also make traders thin margins. Prices of Asian polyethylene terephthalate make RUB 59.000-61.000/t, including VAT, CPT, Moscow.

According to market players, at the moment PET demand is weak amid oversaturated market. Further cutting of prices will not boost demand, but will just lead to financial losses. That is why many market players say about necessity to raise granulate prices - to ensure the minimum required level of profitability. According to MRC analysts, in early September growing PTA prices in Asia and Europe will force some Russian producers to increase PET prices around by RUB 1.000/t.

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